Is AI just an abbreviation or a future of TV services?
Artificial Intelligence (AI) is transforming the business potential of broadcast, media and entertainment industry.
From using AI for content distribution to delivering hyper-personalized viewing experiences, from AI-based content production to monetization, from optimization of metadata to boost of network efficiency — Artificial Intelligence practices are moving and changing the streaming ecosystem. There is infinity of options for companies to take advantage of AI technologies such as Machine Learning, Natural Language Programming, Deep Learning to implement innovation and get revenue.
Artificial Intelligence enables machines to reason, adapt to new inputs, learn from past events and perform tasks in the way humans do. Combining computational power with smart algorithms, machines can use high-level simulations of human neurological processes to accelerate innovation and solve the industry’s most pressing challenges.
Today OTT TV service has three biggest challenges: customer acquisition, retention and user churn reduction. Offering content and an experience that’s overwhelming is crucial for your platform future.
One of the ways to build a platform to compete on the market is to build a robust recommendation engine and content discovery mechanism by bringing in AI.
AI has a significant place in content recommendation. Netflix has been making good use of AI to drive content recommendation for a few years now. It is essential because AI-driven content search helps users to navigate easily and gem content.
AI detects viewing pattern: how long user watches content, what kind of content is consumed, what time of the day content is played, and when a user move away from a particular content. Based on this data, AI is able to suggest better recommendations to the user.
AI may also make better prediction for the platform owner about the success of the content and better revenue analysis for them: when to release, what time, when it will be watched most, what pricing will be best etc.
Let’s be true: there are so many predictions about AI. From a belief that it is not a technology but a fraud, to a confidence of some that AI of today will lead us to a war with robots.
Thinking of the close and the real future, we suppose that AI applications may analyze our interests and draw upon them to create music and shows that use digital performers. Since everything will be based on personal preferences, we’ll rarely have to sit through a “flop” or a bad song.
Also we expect that AI will become more empathetic. Today’s chatbots and virtual personal assistants help to research any question and provide an accurate response. That’s impressive, next step is AI-driven devices analyzing human speech or actions to interpret human needs, so they can offer more insightful information. This type of programming might best be described as “digital empathy” and it may provide the best human-device interactions possible.
Basically, AI will try to gain humanity in order to not only collect information and analyze it but be able to interact with us.
Will AI play an important role in the success of an OTT platform? Will it drive all data analysis, predictions, and trends for a business? We don’t know by now. Nevertheless we think it is at least promising technology, that’s why we develop and train our recommender system to deliver best experience to users.